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Pictures of 320 Evans

Exterior Walls Facing Inner to The Court Yard Parking Lot

Main Lobby

Electrical Room

Boiler Room

Elevator Room

Heater System for Lobby and Manager Office

AC System for Lobby and Manager Office

AC Heating Systems for Hallways

Security and Alarm System

Owner Manager Office

Laundry Room

Hallways of 2nd and 3rd Floors

Small Studio - Bedroom and Kitchen

Small Studio - Bathroom

Medium Studio - Bedroom and Kitchen

Medium Studio - Bathroom

Large Studio - Bedroom and Kitchen

Large Studio - Bathroom

1 BD 1 BA Unit - Living Room and Kitchen

1 BD 1 BA - Bedroom and Bathroom

320 Evans Before Remodeled

Property Summary and Highlights

Property Summary:

  • RARE Downtown Reno mixed-use residential commercial investment opportunity
  • STEPS AWAY from ALL CASINOS, Freight House District Entertainment, Greater Nevada Field
  • Aces Ballpark, Amtrak, RTC Station, Reno Events Convention Center, National Bowling Stadium, Truckee River AND a few blocks away from 1.2 Billion New Development on West Street
  • INTERIM INCOME to OFFSET HOLDING COSTS for development 30 Minutes from LAKE TAHOE skiing and water sports


Investment Highlights:


USA Manor Apts, in downtown Reno, Nevada is a sixty-one (61) units Single Room Occupancy Apartment building, built in 1982. It has covered parking spaces right beneath the building, which has gorgeous tall white modern pillars structure. Offering tenants direct exposure to foot traffic along Evans Street, the Property allows direct access to all area amenities. Consistently above 90% occupancy, the Apartment component is made up of fully furnished 59 studio apartments of approximately 252, 288, & 322 square feet and two one bedroom and one bath apartments of approximately 567 square feet. Only Owner/Manager apartment has stove. For all other units, each unit includes a small kitchenette with microware and feature brand new Amana PTAC 9000 BTU Air Conditioner Heat Pump (currently upgrading to be complete in all units soon), DirecTV Cable TV with up to 28 channels including news, sports, & full package of HPO/Cinemax channels, mini frig or optional full size frig. The Property has on-site laundry room with new frontload commercial SpeedQueen 22lb washers, Elevator, Fire Alarm system professionally monitoring 24x7, and Security Electronic Key Access system for main lobby door. Property is in the heart of Reno’s downtown corridor one block from the Truckee River, across from RTC bus station, next to Wrightway market, & few steps away from Fireside Market, next to Freight House District Entertainment and Aces Ballpark, steps away from Amtrak Train Station, Casinos, and all amenities in downtown Reno. Originally built as a luxury hotel with jacuzzi in the units. The property’s immediate area comprised of approximately 35% multifamily, 15% retail and the remaining 50% is commercial developments (casinos, dining, & entertainments).


Employment and Economic Growth:


The property presents an exciting opportunity to capitalize on a market that has been stimulated by Tesla’s massive $5 billion electric automobile plant, which is equivalent in size to 107 footballs fields. Reno, Nevada has experienced an economic boost brought on by the recent announcement of new companies and industries entering the market. Real Estate Investors are positioning themselves in what is referred to as “ The Biggest Little City in the World” to take advantage of this positive economic momentum. The unemployment rate is Washoe County has decreased annually over the past 6 years. As of 2016 the unemployment rate stood at 5.6% with a total of 217,100 employed within the county. The Tesla site had a weekly average of 638 construction workers and 2,600 unique construction workers, according to a state audit. Elon Musk told reporters that he expects to hire about 10,000 employees in the Giga-factory within a few years. With the construction of Tesla’s 5,800,000 square foot facilityunderway, there has been an increase in speculative real estate development, which will increase demand for housing and retail services.

USA Manor Property Matrix

  1. Ownership Interest: Fee Simple
  2. Jurisdiction: City of Reno, Washoe County
  3. Address: 320 Evans Avenue, Reno, NV 89501
  4. APN: 007-313-08
  5. Site Size: + 0.321 Acres/13,939 SF
  6. Building Area: + 24,436 Square Feet
  7. Building Description: 3 story building, original built was Jupiter Hotel in 1982, converted to "Lincoln Lanes Apts" property in 1999. The name was changed to USA Manor when ownership changed in 2004.
  8. Parking Spaces: Covered Parking Spaces, Open Parking Spaces, and Street Parking
  9. Zoning: MURD - Mixed Use Downtown Reno - Commercial
  10. Year Built: 1980
  11. Room Description
    1. DirecTV Cable TV, including News, Sports, and Full Package of HBO/Cinemax channels
    2. New Amana PTAC AC/Heat Pump 9,000 BTU (in process of upgrading all units)
    3. New 8 Inches Twin Mattress "Linespa" memory foam (in process of upgrading)
    4. New Twin heavy duty "OLEE" bed frame T-3000 (in process of upgrading)
    5. New Temper Resistant (TR) Decorator Outlets and TR GFCI (in process of upgrading)
    6. New two tone colors paint (in process of upgrading)
    7. Gentex-building fire alarm audible signaling device monitor 24x7 by Burgarello
    8. Smoke Alarm Worry-Free 10 years sealed lithium battery (not removable battery)
    9. Small Kitchenette with Sink, Cupboards, and Microwave
    10. Mini Refrigerator or Optional Full Size Refrigerator

Area Overview - Reno

Reno, the second largest metropolitan area in Nevada, is home to nearly 450,000 people with annual tourism counts of over 4.2 million people. With close proximity to popular destinations such as Yosemite National Park, Eldorado National Forest and Lake Tahoe, there is never a shortage of outdoor activities or spectacular views in Reno. Gambling, golf, entertainment, and a thriving culture also draw people to the area.













The area is well-situated along I-80 and I-580, creating easy access to the numerous activities in the area as well as destinations like Carson City, Sacramento, and San Francisco.


With no corporate, personal, inventory, franchise, or unitary taxes, Nevada has become an enticing business locale. The tax structure, coupled with its centrally located position has reinvented the State of Nevada and the Reno-Tahoe area to an ever-growing and strong economic powerhouse. Tesla, Apple, and Amazon are expanding to Reno, providing jobs, distribution hubs, and contributing to the already-booming economy in the area.


Though the technology industry is gaining ground in the Reno-Tahoe market, the state's leading industry is tourism. As roughly 4.2 million people visit Reno-Tahoe every year, landmarks such as the Reno-Tahoe International Airport and local casinos resort are working year-round to improve their properties in order to better welcome the high volume of tourists that visit.


The Reno-Tahoe area is also home to 11 major resorts with nearly 15,500 hotel rooms which accommodate the influx of visitors year round.


The Washoe County job industry has a total of 230,056 jobs and an unemployment rate of 5.6% as of 2016. The majority of Civilian Labor Force works in the Government, Accommodation and Food Services, Health Care and Social Assistance, and the Retail Trade Industry. Between 2006 and 2016, Washoe County has experienced the increase of 1,570 General Warehousing and Storage Jobs, 1,379 College, Universities, and Professional Schools (State Government) jobs, and an increase of 1,375 Telemarketing Bureaus and other Contact Center Jobs.













Commonly referred to as "The Biggest Little City in the World," the city is home to global gaming companies and major corporations, including Tesla and Apple (recently moved and constructed facilities nearby). Tesla recently implemented its 5B development/lithium battery plant, while Apple recorded, at the time, the largest land purchase in the history of this growing area. Over 9,000 employees will join the local workforce due to these recent expansions into the market. These developments continued the trend of Reno having the largest concentrations of distribution-related property per capita in the U.S.











While providing an attractive cost of living, access to the markets noted above, favorable tax structure and quality of life, further business-friendly attributes make for an attractive sales pitch to the business community and its employees. The following tax structure also provides another significant reason to relocate:


  1. NO Personal Income Tax
  2. NO Corporate Tax
  3. NO Franchise Tax
  4. NO Unitary Tax
  5. NO Inventory Tax
  6. NO Inheritance Tax
  7. NO Estate Tax


PAST Fortune 1000 companies with Regional HQ in the Region:

Apple

Cisco System

International Game Technology

Inuit Payroll Services Group

Microsoft Corporation

U-Haul

Coca-Cola Bottling Co.

Aramark

Cabela's

Dr. Pepper/Snapple Group Bottling

DuPont

FedEx

General Motors Corporation

Clorox/Hidden Valley Ranch

Sears/K-Mart

Pepsi Bottling Group

UPS Worldwide Logistics

The Greater Reno-Tahoe economic climate continues to rise. While already inviting exciting opportunities like Tesla, new industrial parks, hotels and gaming companies to the market. Reno-Tahoe remains, like Nevada, one of the friendliest business climates in the United States. The area includes Reno, Sparks, Incline Village, and the State Capital of Carson City.


The property has an attractive location because of its close proximity to Major Markets such as San Francisco, Portland, Salt Lake City, and Los Angeles. As the 66th busiest commercial airport in the nation, Reno-Tahoe International Airport (RTIA) serves nearly 4 million people per year. Everyday, approximately 378,800 pounds of cargo arrive/depart from the RTIA. Located in the northwest portion of Nevada and adjacent to the California border (Lake Tahoe), Reno is the third largest city in Nevada. Eight counties in total, the area is home to a variety of outdoor recreation amenities, culture, and seasonal activities. Reno is the county seat of Washoe County.










With recent enrollment levels at about 20,000 students, University of Nevada, Reno (UNR) was founded in 1874 and was the first and only land grant institution in the State of Nevada. Home to the region's leading Schools and Colleges of Medicine, Engineering, Journalism, Liberal Arts, Sciences and Business, the University is accredited at the Graduate and Ungraduate levels and provides a vital role in the local economy and the business climate. UNR was recently ranked in the top 200 universities in U.S. News and World Report and ranked in Forbes magazine as one of the best private and public colleges and universities in the U.S., while the College of Business' part-time MBA program was ranked 24th in the United States by Bloomberg Businessweek in 2014. While being a draw for its diverse community and student offerings, UNR is also home to Nevada Wolfpack sport programs with notable stadiums including the Mackay Stadium (+30,000 capacity - NCAA football) and Lawlor Events Center (+11,750 capacity - men's/women's NCAA Basketball). Both venues offer a variety of events and tourism generators to the campus and region year-round.

Winter and Summer Fun Family Activities at Freight House District

National Bowling Center

Reno Ballroom Events Center

The Heart of City of Reno